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Medical Insurance

63% of those with a partner say they have not discussed life insurance with their partner, 29% say life insurance is too unpleasant or difficult to discuss.  Having a difficult 10 minute conversation could save years of financial difficulty if the unforeseen strikes.  What statistic are you?

Australia’s medical system is split between the public and private sector. We have a very generous medicare system so that if we cannot afford private health treatment (for which you pay for treatment) then in many cases you can get treatment through the medicare bulk billing system. The problem with just relying on medicare alone it that often to see a specialist you may be waiting for months before your first appointment, in your first appointment you may not see the specialist but be merely assessed on the severity of your condition, then based on that outcome you are placed on the waiting list for whatever treatment you require; this could be surgery or to see the specialist to get on a prescribed plan.

Private health insurance covers a portion of the fee the medical specialist charges (medicare does pay a gap – but this is a small portion in comparison). When considering private health care it is important to consider that the government will charge you a medicare surcharge through your tax if you earn over a certain amount and do not have private insurance. In some cases you may save yourself money you would otherwise pay in tax if you take out private health insurance.